Here's a breakdown of a possible timeline for selling your current HDB flat, considering your circumstances:
**Timeline:**
1. **Late Q3/Early Q4 2014 (Before Key Collection):**
* **Start Preparing:** Declutter and make any necessary repairs or upgrades to enhance your flat's appeal.
* **Research and Compare:** Research property agents to find one who specializes in your area and has a good track record. Interview multiple agents and compare their commission rates, marketing strategies, and experience.
* **Valuation:** Engage a professional valuer to assess your flat's market value. This will help you set a realistic asking price.
* **Begin Marketing:** Start marketing your flat discreetly (e.g., through word-of-mouth, social media). Avoid listing it publicly yet, as you need to remain flexible with the handover date.
2. **Q4 2014 (Key Collection Timeframe):**
* **Key Collection:** Collect the keys to your BTO flat.
* **Intensify Marketing:** Now that you have the keys, you can officially list your flat for sale and engage a property agent (if you haven't already).
* **Secure a Buyer:** This could take a few weeks to several months, depending on market conditions and your asking price.
3. **Q1/Q2 2015 (After Key Collection):**
* **Negotiate and Accept Offer:** Once you find a suitable buyer, negotiate the price and terms. Sign the Option to Purchase (OTP) if both parties agree.
* **Submit Resale Application:** You and the buyer will need to submit the resale application to HDB within seven days of exercising the OTP.
* **Completion Appointment (8 weeks after application):** Attend the completion appointment at HDB, sign the necessary documents, and hand over the keys to the buyer.
* **Plan Move-out Date:** Negotiate a reasonable move-out date with the buyer to allow you time to renovate your new BTO and find a suitable childcare centre.
* **Renovate and Move:** Renovate your BTO flat and move in after the move-out date agreed upon with the buyer.
**Usual Timeline for Completing a Sale:**
The entire process, from listing your flat to completing the sale, typically takes around 8 to 12 weeks. However, it can vary depending on various factors, such as finding a buyer, HDB processing time, and the negotiated move-out date.
**Important Considerations:**
* **Cash Proceeds for Renovation:** Ensure you set aside enough funds from the sale proceeds to cover the renovation costs of your BTO flat.
* **Storage of Furnishings:** Consider temporary storage options for your furniture and belongings during the renovation and transition period.
* **Childcare Centre:** Start researching childcare centers near your new BTO flat in advance so you can secure a spot for your children before you move.
Remember, this is just a suggested timeline. The actual timing may vary depending on your specific circumstances and market conditions. It's essential to remain flexible and adaptable throughout the process.
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
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